Netflix will have four days to revise its offer to purchase the legacy entertainment empire.
The Paramount Global logo, in this illustration. Dado Ruvic/Illustration/Reuters
Warner Bros. Discovery said on Feb. 24 that Paramount Skydance proposed a higher takeover offer at the end of a seven-day waiver period from Netflix.
The Warner Bros. (WBD) board will now review Paramount’s new bid and compare it to the terms of its existing arrangement with the streaming giant, the company said in a news release.
